Applying as economically disadvantaged

[Manbearpig11]

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Hello,

 

[Manbearpig11]

Any input about any variables in my situation could be very helpful so, please don't hold back and please keep it constructive because I know this was a terrible decision that has only caused me endless amounts of trouble.

 

[DrMidlife]

First, the loans. They aren't income. Student loans don't affect a low-income status.

If the loans are private, and you haven't paid them back yet, that's painful. Private student loans are handled completely separately from federal student loans. You may find you have limited deferral abilities, so you have to start making payments before med school is over. No IBR, no forgiveness.

You probably have to submit your tax returns and your parents' tax returns for consideration of economic disadvantage. If your tax returns show that you made money on day trading (did you ever get a 1099?), then the day trading is a factor. Otherwise, there's nothing to report. They're not going to audit how you paid for undergrad. They have no way of knowing that you used a student loan for non-academic efforts.

You're probably going to get away with murder here. The day trading would completely ruin the milking cows at 5 am image, if I were reviewing your file.

Best of luck to you.

 

[deleted248403]

My troll sense is going off on this one....

 

[Manbearpig11]

Thank you for the response! I do realize now that the loans were an absolutely ignorant decision but what's done is done and now I have to deal with in the best manner possible.

 

[DrMidlife]

My troll sense is going off on this one....

Nah, a troll would have made money daytrading his student loans.